Interim Management Statement

RNS Number : 6685B

RCM Technology Trust PLC

05 April 2013

 



RCM Technology Trust PLC                                                        

Interim Management Statement

For the quarter ended 28 February 2013

This interim management statement relates to the quarter from 1 December 2012 to 28 February 2013 and contains information for that period unless otherwise stated. This statement is produced to provide information in accordance with the UK Listing Authority's Disclosure and Transparency Rules.

Investment policy and benchmark

The Company invests principally in the equity securities of quoted technology companies on a worldwide basis with the aim of achieving long-term capital growth.  The Company's benchmark is the Dow Jones World Technology Index (sterling total return).

Portfolio

Top ten holdings at 28 February 2013 and percentage of total gross assets:

Stock Name	Market Value		%
		£
Google		6,756,059	6.43
Cisco Systems		4,218,555	4.02
Sandisk		3,770,740	3.59
NetSuite		3,306,600	3.15
Salesforce.com		3,077,796	2.93
Cree		2,963,676	2.82
Aruba Networks		2,910,939	2.77
Tesla Motors		2,905,498	2.77
Amazon		2,761,450	2.63
Western Digital		2,564,293	2.44
Total Gross Assets		105,057,647

Material events and transactions

During the period 627,009 Ordinary Shares were bought back and held in treasury. Since 28 February 2013 a further 43,651 Ordinary Shares have been bought back and held in treasury. There were 26,552,916 Ordinary Shares of 25p in issue at the start of the period and 25,882,256 as at the date of this announcement.

                    .

The Annual General Meeting was held on 3 April 2013 and all resolutions put to shareholders were passed.

Financial Performance to 28 February 2013  

			% change
	3m	6m		1yr	3yrs	5yrs
Share price	8.84	8.84		5.55	32.09	55.62
Net Asset Value	14.60	11.85		5.77	36.65	73.18
Benchmark*	9.19	6.08		5.79	30.10	65.66

* Dow Jones World Technology Index (sterling total return)

Source: Datastream

RCM were appointed as managers on 1 May 2007.

Financial position at 28 February and 3 April

		28 February		3 April
Total gross assets		£105,057,647		£105,974,734
Net assets		£104,762,378		£104,163,528
Share price		349.38p		369.50p
Net asset value 1		404.08p		402.45p
Discount 2		13.5%		8.2%

¹  Net asset values per ordinary share are calculated and announced daily.

² The discount is the difference between the share price and the NAV per share expressed as a percentage of the NAV per share.

Company Information

Launch date		1995
EPIC		RTT
Year end		30 November
Report and Accounts		Final posted February/March, half-yearly posted July
AGM		March/April
Price Information		Financial Times, The Daily Telegraph

Investor information

Further up to date information, including Net Asset Values and share prices, and the latest available factsheets and portfolio information, is provided on the Manager's website, which can be accessed at www.rcmtechnologytrust.co.uk  or www.allianzgi.co.uk/invtrusts .  Information can also be obtained from the Investor Services' helpline on 0800 389 4696.

By order of the Board.

RCM Technology Trust PLC

155 Bishopsgate

London EC2M 3AD

5 April 2013

 

END

 

 

IMSUGUCACUPWUMA